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Baltic dry index slips to new low as demand continues to fall

Time：2016-02-04 Browse：144 Author：RISINGSUN

THE Baltic Exchange`s main sea freight index, which tracks rates for ships carrying industrial commodities, slipped to another all-time low this week, Reuters reports.

The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell four points or 1.3 per cent to 310 points.

The index has yet to register a single session of gains this year, tumbling around 35 per cent and touching fresh lows in 20 of the 22 sessions.

A slowdown in the Chinese economy, which grew at its slowest pace in a quarter of a century in 2015, and a huge over-capacity in vessels has hit the index hard.